When your financial aid exceeds the amount of the charges on your student account, you have excess financial aid. Sometimes this is referred to as an “overage.” The preferred method of getting this overage to you is by direct deposit. NOTE: If the overage is generated by a student loan, you may have borrowed more than is necessary and may want to cancel or return some or all of the loan funds.
It’s faster—funds are available in your bank before any checks are issued.
It’s easier—you don’t have to make a trip to the bank to cash the check.
It’s safer—direct deposits rarely get lost in processing.
Sign up is easy using student e-Services. Register once and receive the benefits every time an amount is distributed to you from SCSU. With direct deposit all student payroll checks, refunds, and financial aid overage amounts are automatically deposited to your specified bank account using electronic funds transfer. Students who have signed up for direct deposit will no longer be issued paper checks.
The information you provide will not be disclosed to anyone outside the SCSU Business Office and the Bank.
Use the instructions below to sign up for direct deposit. You will need your bank routing number and account number to get started. You can find this information on the bottom of your check or your savings deposit slip.
Begin your Direct Deposit signup here.
Please note: If you have previously submitted a direct deposit signup form you will not need to follow the above process unless or until you want to update your bank account information.
If you have questions about your Electronic Funds Transfer information please stop by the SCSU Business Office, AS123 or call 320-308-4012.
IRS Tax Information for Students
IRS Publication 970 - Tax Benefits for Higher Education (pdf)
Tax Benefits for Education: IRS Information Center
The federal government offers several tax benefits for pursuing a college education including tax benefits, tax deductions, and exclusions from gross income. Visit the Minnesota Office of Higher Education’s website for more information on education tax benefits.
IRS Form 1098-T will be issued to all qualified students with tuition and fee expenses paid each calendar year. The form is available online by signing on to your e-services account dashboard and consenting to download the form electronically, or the form will be mailed to the student's permanent address on file following each calendar year end.
In order to withdraw your electronic tax form consent, you must send a written request to Minnesota State Colleges and University’s Tax Services that includes all the information requested in the Electronic 1098-T Tuition Statement Disclosure form. Please be aware that if you withdraw consent, you will not have access to your current or prior year 1098-T forms electronically. You will receive your 1098-T Tuition Statement via U.S. mail. It is your responsibility to make sure that your permanent address is up to date in your e-Services under the "Account Management" link.